New Study Shows Fraternal Benefit Societies Deliver $3.4 Billion in Annual Value... -- OAK BROOK, Ill., Sept. 20 /PRNewswire/ --: "New Study Shows Fraternal Benefit Societies Deliver $3.4 Billion in Annual Value to Communities and Individuals in Need
As Government Resources Dwindle, Societies Fill Growing Needs Gap
OAK BROOK, Ill., Sept. 20 /PRNewswire/ -- At a time when growing numbers of Americans are in acute need of economic help, a new Georgetown University study finds that fraternal benefit societies are providing billions of dollars in direct and indirect economic support to allay community needs and support social structures. Not-for-profit mutual aid organizations like Thrivent Financial for Lutherans, the Knights of Columbus and more than 70 others were created more than a century ago to serve the financial and social needs of U.S. communities. Today these fraternal benefit societies give back $68 to U.S. society for each dollar that the federal government invests to help support their operations, concludes the study's author, Phillip Swagel, a Georgetown professor and former Assistant Secretary of Economic Policy for the U.S. Treasury Department."